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Notable! Live Rent Free in Multiple Countries

Discussion in 'Real Estate Investing' started by GlobalWealth, Apr 29, 2015.

  1. MTF
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    MTF Never give up LEGENDARY CONTRIBUTOR FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    How are you going to manage the keyless entry for guests? A different code for each guest with an expiration date?
     
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  2. GlobalWealth
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    GlobalWealth Platinum Contributor FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    I have 2 backup people close by for emergencies.

    I will say the last 2 times I stayed at airbnb they were both superhosts and both were automated with no one at checkout. Great experience.

    Sent from my SM-G900FD using Tapatalk
     
  3. GlobalWealth
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    GlobalWealth Platinum Contributor FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Yes

    Sent from my SM-G900FD using Tapatalk
     
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  4. Valor
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    Valor Silver Contributor FASTLANE INSIDER Speedway Pass

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    @GlobalWealth I recently had the idea of doing the same thing you talk about in the OP within the U.S. by renting several apartments across the country (negotiating permission with the landlords of course), and then renting them out on Airbnb.

    I ran the numbers and don't see any reason why it wouldn't work out to where you could have several apartments across the country and not pay a penny for any of them (and more likely make 20-50% annual ROI's with them). After running the numbers, I fully plan on doing this in the near future within the U.S.

    I see that you've done this (rented out apartments on Airbnb that you yourself are renting from a landlord), but it seems it's been in other countries so far. Do you have any experience doing so strictly in the U.S.?

    Do you have any tips that you would give for negotiating permission from landlords to sublease the apartments? Or any advice for using Airbnb - increasing nightly rates, fill rates, etc. using their platform?

    My plan is offer to pay a large (50-100%) of the full 12 month lease upfront as necessary to help gain permission to list the apartments on Airbnb. From there, achieving a nightly rate of 9-10% of the monthly rent/expenses and a 50% fill rate on Airbnb seems doable, leaving rough profit before cleaning services, etc. at about 50% of the monthly rent I'd be paying.

    I see other people have mentioned related stuff in this thread too, so I hope it's not repetitive. I guess my question is, if you were to go this route, given your experience and knowledge, what general advice would you give, i.e. how would you approach this starting out?

    Thanks so much for the thread btw - no clue how I've missed it before.
     
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  5. GlobalWealth
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    GlobalWealth Platinum Contributor FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    The answer is just work. You will need to review the rental agreement and ensure it does not prohibit sublets. You will also need to confirm any hoa does not prohibit short term leases. Just talk to the landlords. Ask them. Many will say no. Talk to more.

    It's just a math problem. It doesn't matter what country the property is located in.

    Not really. Just play around with the platform until you get the settings you like. You will likely need to start with a low nightly rate to get some guests and reviews. Once you have a few reviews just raise your prices.

    Just take your time. Find the right property in the right location. For short term rentals, locations is even more important. You can have an amazing property but it may be just slightly out of walking distance to the restaurants, bars, etc. and no one will rent it no matter what the price. Travelers want convenience. You will not get rich quick doing this. Take your time.
     
  6. hers1357
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    hers1357 New Contributor

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    Interesting post! I do this in the UK.. I have 2 apartments I sub-let and rent on airbnb and some other sites. It is a lot of work, but the money can be good. I've been doing it for almost a year now and renting a couple of rooms out in my own house. I'm looking to get more here asap and also automate it with key safes.
     
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